The 6th volume of Advances in Chinese Industrial Services, focuses on "The Managerial Process and Impact of Foreign Investment in Greater China"

This book analyses and explains the nature of the economies of small countries and territories. It includes an assessment of material prosperity in 41 small open economies worldwide, with case studies focusing on the Caribbean and Central America, with a review of the development of their economies in recent decades. The volume recommends a suite of economic policy tools for the management of these economies, demonstrating how these may best be employed in economies that live and breathe through international commerce. Among observations of interest is the fact that the devaluation of the local currency of a small nation makes the country worse off; even a currency that maintains its value is little more than a trophy, of little value if it is not readily convertible into US dollars. Also, that while government policies affect international competitiveness and a small country's growth prospects, more important is how governments use additional resources to improve the quality of health and educational services. Moreover, economic windfalls such as the discovery of mineral resources seldom bring prosperity commensurate with their economic value, and never in the short run. The volume will offer invaluable information and analysis to researchers and policy makers investigating small open economies.

On December 14, 1945, the House of Commons voted 314 to 50 to ratify the Agreements negotiated at Bretton Woods, New Hampshire, nearly a year and a half earlier. Lord Keynes had returned from Washington to defend the Fund and the Bank, of which he and Harry White were the principal authors, as well as to justify an American loan to Britain - following President Harry S. Truman's abrupt postwar decision to terminate all land-lease assistance to its wartime allies, an event which induced the Conservative MP Robert Boothby, to declare: "This is our economic Munich". Today, fifty years later, virtually all the governments of the world have become members, and the capital subscriptions have increased many fold. But questions have arisen. Perhaps the Fund and the Bank should be merged. Some argue that fifty years are enough, at least for the Bank. Others believe that, while expansion should continue, the emphasis should be redirected toward the alleviation of poverty in Africa and southern Asia. This is an account of the historic events of the interwar years and after. It is also a story about the liberal philosophies of the political economists, primarily British and American, who produ

The growth of global commerce depends on many different factors and strategies in order for multinational corporations to efficiently compete and thrive in the international marketplace. In addition to business strategies, corporations must also be aware of political affairs that may impact their global economic status. The Handbook of Research on Impacts of International Business and Political Affairs on the Global Economy features dual perspectives on the business and political viewpoints for nations striving to maintain their economic standing in the era of globalization. Providing insight into various economic factors impacting global businesses and international affairs, this publication is a critical reference source for students, policymakers, international diplomats, researchers, scholars, and practitioners interested in financial challenges in the era of globalization.

In Economic Growth and Democracy in Post-Colonial Africa: Cabo Verde, Small States, and the World Economy, edited by Joao Resende-Santos and Aminah Fernandes Pilgrim, the contributors provide a comprehensive academic analysis of the political economy of Cabo Verde (Cabo Verde) from its independence in 1975 to the present. Democracy and economic growth have been in short supply in post-colonial Africa. Yet the widespread misperception of this vast and diverse continent as experiencing only failure has overshadowed cases of good governance, human development, and social peace. This volume offers a comprehensive analytical narrative on how Cabo Verde (Cape Verde) forged a nation and navigated the world system since independence to achieve some progress. The volume critically examines its political and institutional evolution, foreign affairs, economy, and development policy. The chapters analyze the sources and nature of this relative success as well as underscore the many shortcomings and challenges ahead. As the first volume in English on Cabo Verde's political economy, it serves as both a primary source and sociopolitical study, featuring some of the most accomplished scholars and policy practitioners. This collection aims to fill this gap in the literature and offers a new perspective on democracy and growth in post-colonial Africa.

Two decades of steady progress have transformed ASEAN into a permanent component of world politics and a model for Third World cooperation. Its study should now be mandatory. The Palmer-Reckford volume provides an excellent introduction to ASEAN member states and the organization itself. It reviews problems and promises meticulously and comprehensively and should become required reading. Hans H. Indorf, President, Asian Affairs Analysts In this comprehensive new volume, the authors trace the history of the Association of Southeast Asian Nations (ASEAN) from its formation in 1967 to the present day. They discuss political, economics, and security issues involving each of the member countries (Indonesia, Malaysia, Thailand, Singapore, the Philippines, and Brunei). The authors focus on the ASEAN's efforts to promote regional cooperation in the face of the divisive economic, strategic, and diplomatic interests. ASEAN policy towards Indochina, is discussed in depth, as are efforts to create cooperative economic ventures. Their conclusion maintains that the success of ASEAN is due largely to the individual achievements of member nations rather than to ASEAN as an institution. Finally, they make a number of recommendations for improving ASEAN's effectiveness.

Economic Growth and Distribution isolates and compares the logical structures and methodological underpinnings underlying the relationship between economic growth and distribution. It carries out an in-depth analysis of a wide range of issues connected with growth theory considered from different theoretical perspectives. Its uniqueness is derived from the original contributions by a number of scholars of different persuasions; some within the mainstream and others from Keynesian-Kaleckian-Sraffian positions. The book deals with a wide variety of research topics concerning economic growth and distribution, such as the transition from the epoch of Malthusian stagnation to the contemporary era of modern economic growth; comparisons among the classical tradition, modern theory, and heterodox models; problems of policy; dynamics and business cycles; and the role of institutions. For its emphasis on comparisons and complementariness among alternative theories of growth and distribution, Economic Growth and Distribution complements the work of advanced textbooks on the topic. It is a companion to Innovation, Unemployment and Policy in the Theories of Growth and Distribution (edited by N. Salvadori and R. Balducci) and Classical, Neoclassical and Keynesian Views on Growth and Distribution (edited by N. Salvadori and C. Panico). The book will be appreciated by scholars of the theory of economic growth, the theory of distribution, macroeconomics, classical and Keynesian economics, as well as historians of economic thought.

Both studies of political power and Europeanization studies have tended to neglect central banks. As the age of the euro reaches its 10th anniversary, it is timely to reflect on what it means for central banks, which have been at the forefront of the establishment of Economic and Monetary Union in the European Union. Central banks have been caught up in a major historic political project. What does it mean for them? What does the age of the euro tell us about the power of central banks, their Europeanization and whether they are coming to resemble each other more closely?
This book brings together a range of recognized academic specialists to examine the main political aspects of this question. How, and in what ways, has the euro Europeanized central banks (members and non-members of the Euro Area)? What have been its effects on the power of central banks and their use of power? Has the euro generated convergence or divergence in central banking? The book offers the first, in-depth and systematic political analysis of central banks in the first decade of the euro. It places the euro in its global and European contexts, including the US Fed and the Australasian central banks, patterns of differentiated integration in European central banking, and the European Central Bank. It offers a set of case studies of its effects on a representative sample of EU central banks (euro 'insiders' and 'outsiders') and looks at four main thematic areas (monetary policy, financial market supervision, accountability and transparency, and research).
The book contributes to Europeanization studies, comparative political economy, and studies of Economic and Monetary Union. It will be of major interest to students of the European Union and European integration, comparative European politics, and area and 'country' studies. More generally, it will interest all those interested in central banking and their pivotal and problematic position between politics and markets.

The Federal Reserve System-the central bank of the United States, better known as The Fed-has never been more controversial. Criticism has reached such levels that Congressman Ron Paul, contender for the Republican presidential nomination in 2012, published End the Fed, with blurbs from musician Arlo Guthrie and actor Vince Vaughn. And yet, amid a slow economy and partisan gridlock, the Fed has never been more important. Stephen H. Axilrod explains this influential agency-its powers, operations, how it sets policy-in The Federal Reserve, a timely addition to Oxford's acclaimed series What Everyone Needs to Know. Of the two major governmental tools for shaping the economy, Congress controls fiscal policy-taxation and spending-and the Fed makes monetary policy-influencing how much money circulates in the economy, and how quickly. Traditionally the Fed has relied on three instruments: open-market operations (buying and selling U.S. bonds), lending to banks, and setting reserve requirements on bank deposits. It also helps to regulate the financial system. Drawing on years of experience inside the Federal Reserve System, Axilrod shows how these tools actually work, and answers a series of increasingly detailed questions in the series format. He asks, for instance, if the system of regional Fed banks needs modification for today's technological landscape; if there is corruption in the Fed's governance; what happens to profits from its operations; the impact of political pressure; the extent of Congressional oversight; and just how independent it truly is. Whether discussing the Fed's balance sheet through the financial crisis of 2008 and beyond, the federal funds rate, or the international context, Axilrod displays a mastery of his subject Coming in time for the Fed's 100th anniversary in 2013, this book deftly explains an institution that every American needs to understand.

This authoritative Handbook provides a thorough account and analysis of the important issues relating to the globalization of the international economy. The increasing interdependence of the world's economies has caused a breakdown in national economic boundaries and a freer access to goods, services and labour. This comprehensive book, written by experts in the field, addresses major issues associated with this international economic integration. This reference work considers: global growth including inequality, saving, foreign direct investment, external debt and multinational corporations regionalization and globalization of trade such as the role of international institutions, external economies of scale and trading blocs transition to market economies in Central and Eastern Europe, the former Soviet Union and East Asia internationalization and integration of markets including the financial, capital, labour and agricultural markets global environmental and resource problems including transboundary pollution, the implication of North-South trade for natural resource depletion and environmental degradation, and the impact of energy markets on global growth, pollution and economic stability.

Most social scientists are familiar with the concept of the Silk Road. In recent years, however, it is the New Silk Road that has been on the lips of many. This short guide is addressed to all those eager to learn more about this new road. The New Silk Road resembles the old road in that it represents an ensemble of relationships and connections among several distant places. The author depicts some of them and presents people, institutions and projects connected to the road. Moreover, the various meanings and values attributed to the new road by different people across the world are explored. The book seeks to reveal the implications and meanings the New Silk Road has for the world we inhabit and for its future. "Adam Nobis's [...] is a much-needed, relevant and interesting publication. It is relevant because it addresses processes unfolding before our eyes and impacting our real, socio-cultural world. It is interesting, for it discusses these processes in an original way and competently combines synthesis with analysis. It is much-needed as it offers the readers a wealth of detailed information about the developments it depicts." Leszek Kopciuch, Maria Curie-Sklodowska University, Lublin "This modestly-sized book is an outcome of the author's painstakingly meticulous effort to put together scattered pieces into an imposing mosaic that is the New Silk Road. [...] With Nobis's guide in hand, the reader can feel at ease traversing, both physically and imaginatively, the paths that stretch between China and Europe." Leszek Koczanowicz, SWPS University of Social Sciences and Humanities, Warsaw

ESPERA was initiated in 2013 by the National Institute for Economic Research "Costin C. Kiritescu", Romanian Academy. The aim of the International conference is to present and evaluate the economic scientific research portfolio, to argue and substantiate development strategies, including European and global best practices. ESPERA intend to become a scientific support for conceptualisation and establishment of policies and strategies and to provide a systematic, wide and challenging dialogue within the European area of economic and social research. The 2018 edition of the Conference took place under the title "The Romanian Economy. A Century of Transformation (1918-2018)", as part of the Romanian Academy anniversary events celebrating the "100th anniversary of the Great Union of Romania".

This edited volume examines the development path of eight Central and Eastern European countries with an overlapping historical background that joined the European Union between 2004 and 2013, and identifies the main similarities and differences between the countries concerned. Based on wide comparative data analysis of Bulgaria, Croatia, The Czech Republic, Hungary, Poland, Romania, Slovakia, and Slovenia, each chapter in the volume provides detailed information about the state of the economy in a specific area preceding the pandemic shock. The book offers a detailed snapshot of the state of the different areas of the economy, starting from the time when the countries concerned came out of the 2008 financial crisis, up to the date when COVID-19 hit. Further, each chapter analyzes the effects of this unprecedented shock on a particular field, which is followed by highlighting the main problems the countries are facing at present and in the near future, together with identifying the available policy options. Finally, before concluding and making general and country-specific policy recommendations, some thoughts will be given to longer-term prospects. More specifically, the question of how the subject area could contribute to avoiding the "middle-income-trap" that this region may be facing will be addressed. The comprehensive approach makes this volume a must-read for scholars and students of economics, as well as policy decision-makers in Europe, interested in a better understanding of the region's economic development.

This book provides a multidimensional analysis of Iran's struggle for development between 1970 and 2020, focusing on fundamentals, institutions, and socioeconomic trends. The past several decades in Iran have been a period of sluggish and noninclusive economic growth, ill-fated social engineering with an Islamic template, political repression, and extensive environmental degradation. The intellectual discourse surrounding the impediments of growth in Iran has been dominated by an exaggerated notion of the role of ideology, class struggles, imperialism, and historical contingencies, overlooking the profound impacts of institutions and fundamental socioeconomic trends. This book aims to fill this gap using positive economics and data-driven analysis to cover a wide array of topics, such as governance, corruption, macroeconomy, population dynamics, labor, financial systems, energy, water scarcity, and food security. Illustrating clearly the complex interactions among different dimensions of Iran's development, this book will be essential for researchers, policy makers, and journalists.

The COVID-19 pandemic is a Rorschach test for society: everyone sees something different in it, and the range of political and economic responses to the crisis can leave us feeling overwhelmed. This book cuts through the confusion, dissecting the new post-coronavirus capitalism into several policy areas and spheres of action to inform academic, policy and public discourse. Covering all the major aspects of contemporary capitalism that have been affected by the pandemic, Andreas Noelke deftly analyses the impacts of the crisis on our socio-economic and political systems. Signposting a new era for global capitalism, he offers alternatives for future economic development in the wake of COVID-19.

Globalization is defined in economic terms to mean flows of trade, foreign direct investment and finance, and liberalization of trade and investment policies. The impacts of globalization and information technology are examined in this text in terms of growth and productivity, poverty and income distribution, and employment. The experiences of Africa, East and Southeast Africa, South Asia and Latin America in the era of globalization are discussed. It is argued that benefits of freer trade and capital flows need to be managed carefully in order to minimize the costs and maximize gains.

The post-communist European countries have faced enormous political and economic problems in attempting the transformation to a market oriented economy through two of the most important channels influencing this process--privatization and foreign investments. Focusing on Russia, the Czech Republic, Hungary, Bulgaria, and Poland, the authors examine the trends toward privatization and the problems facing the countries economic managers and foreign investors. They explore what can be done to increase foreign direct and equity investment given the political risks involved in the economic transformation. Scholars and students of international economics, international trade, Russian and Eastern European studies, and government and international agencies should find this study on the relationship between privatization and foreign investment informative and useful.

This volume examines the relationship between trade liberalization policies and income inequality in developing countries. Using survey data for 54 developing countries, the book explores the potential trade-off between the gains from trade and the distribution of those gains and provides a quantification of the inequality-adjusted welfare gains from trade. The book begins with an introduction to the model and its methodology. Chapter 2 sets up the model and derives the formulas for the welfare effects of trade policy. Chapter 3 uses the tariff data and the survey data to estimate those welfare effects in 54 countries. Chapter 4 discusses the gains from trade and their distribution. Chapter 5 evaluates and quantifies the trade-off between income gains and inequality costs of trade. Chapter 6 presents robustness tests and results from alternative models of the impacts of trade. The last chapter reviews the Household Impacts of Trade database and dashboard, which provides data for replication and a platform that allows researchers to simulate agricultural tariff policy shocks. Providing a comprehensive empirical analysis of the effects of trade policy on inequality in developing countries, this volume will be of interest to researchers and students of economic inequality, development, and international trade as well as policymakers interested in the inequality and poverty consequences of trade policy.

The financial crisis that began in 2008 and its lingering aftermath have caused many intellectuals and politicians to question the virtues of capitalist systems. The 19 original essays in this Handbook, written by leading scholars from Asia, North America, and Europe, analyze both the strengths and weaknesses of capitalist systems. The volume opens with essays on the historical and legal origins of capitalism. These are followed by chapters describing the nature, institutions, and advantages of capitalism: entrepreneurship, innovation, property rights, contracts, capital markets, and the modern corporation. The next set of chapters discusses the problems that can arise in capitalist systems including monopoly, principal agent problems, financial bubbles, excessive managerial compensation, and empire building through wealth-destroying mergers. Two subsequent essays examine in detail the properties of the "Asian model" of capitalism as exemplified by Japan and South Korea, and capitalist systems where ownership and control are largely separated as in the United States and United Kingdom. The handbook concludes with an essay on capitalism in the 21st century by Nobel Prize winner Edmund Phelps.

This IEA volume brings together a set of essays written by leading authors on themes relevant to the study of economic development. The book covers a range of topics many of which are relevant to policy issues. The contributors bring new insights from empirical research in a range of economies with chapters including discussions of the UN development agenda, fiscal policy in Latin America, poverty data in Africa and Jordan, and monetary policy in South Africa. Contemporary Issues in Development Economics is an essential read for researchers, scholars and policymakers interested in economic development in low- and middle-income countries.

This book addresses the causes and consequences of the international financial crisis of 2008. A range of esteemed contributors explore developments in the United States, where the crisis of 2008 originated, as well as the smallest country affected, Iceland, by evaluating developments since 2008. Currently, many countries are facing similar problems as Iceland did in 2008: this book is of interest to economists and policy makers in these countries to study what happened in Iceland, and why the recovery of that economy was strong and swift. The chapters in this book originate from panel discussions and conferences and explore areas including regulation, state projects and inflation.

Against the background of the introduction of the Euro in 1999, France, Germany and Italy have recently experienced higher divergence in terms of GDP growth.

Based on a set of original papers produced by a team of economists from the three main National Central Banks of the Euro area this book analyses the latest developments in three important European economies in a broad perspective, using modern econometric techniques.

With the start of EMU, the Eurosystem has taken over monetary policy for the 11 countries of the Euro area. But the division of powers within the Eurosystem, between the European Central Bank and the constituent National Central Banks, is not satisfactory. This volume provides an analysis of the strengths and weaknesses of the Eurosystem and offers concrete proposals concerning the decision making organs, balance sheets and the distribution of seigniorage.

Despite the regional currency crisis of 1997-1998, Asia-Pacific economies continue to be among the most attractive markets in the world. Japanese, American, and European firms have invested heavily in the past decades, and now are positioning themselves to take advantage of the post-Asian recovery, phenomenal Chinese growth rates, and deepening economic liberalization. This pathbreaking work focuses on understanding the market and nonmarket strategies employed by US firms to boost their share of the developing Asian market and to rally the US government in support of their initiatives. In addition to advancing a novel theoretical framework to analyze strategy, the book contains an overview chapter focuses on US investment and trade trends in Asia and original case studies of the banking, automobile, telecommunications, chemical, software, and electronics sectors that provide insight into winning strategies in Asia.